The global hair care market is expanding at a steady pace, and its rapid growth is likely to continue, according to Transparency Market Research.

The global hair care market was valued at US $81.3 bn in 2015 and is expected to reach US $105.3 bn by 2024, registering a steady 3.0% CAGR during the forecast period.

What is driving purchases? Consumer demand for “healthy, lustrous, and manageable hair,” the market research firm says. Significant growth will also be due to innovations in technology for the formulation of new types of hair care products. The demand for natural and organic products is also expected to continue.

Shampoo Leads

The shampoo segment leads the global hair care market, accounting for a  30.9% share in 2015 in terms of revenue.

Emerging economies such as China, India, and countries in the Middle East are anticipated to contribute significantly to the herbal shampoos market.

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